The Real Deal New York

Central Park North rental building trades for $33M

Seller is estate of former Bronx Board of Realtors president
By Rich Bockmann | January 28, 2015 03:00PM

The estate of the late Barry Levites, a Bronx landlord who had headed the borough’s realtors board, recently sold a Harlem apartment building overlooking Central Park for $33 million.

The property is a six-story, 58-unit elevator building at 225 Central Park North, an insider told The Real Deal.

The buyer was RCR Management, which manages some 2,200 units, according to the website Apartable, and owns properties such as the 116-unit 205 West 88th Street.

Neither Levites Realty Co. nor RCR Management could be immediately reached for comment.  Rosewood Realty Group’s Aaron Jungreis, the sole broker on the deal, declined to comment.

Two years ago, L&M Development purchased a block-through 91-unit portfolio of small buildings next door for $27.5 million.

Levites died in 2010 while on a trip to Jerusalem. According to a short biography online, he owned and managed residential and commercial properties along the East Coast. He had served as president of the Bronx Board of Realtors for three terms and sat on the Rockland County Rent Guidelines Board.